Hospitals - Norway

Norway

The Hospitals market in Norway is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is set to reach US$19.51bn NOK by 2024.
Furthermore, a steady annual growth rate of 1.98% is anticipated from 2024 to 2029, resulting in a market volume of US$21.52bn NOK by the end of the forecast period.
When compared globally, it is worth noting that United States is expected to generate the highest revenue in the Hospitals market, reaching a staggering US$1,501.00bn NOK in 2024.
This highlights the significant dominance of the US in this sector.
In terms of per capita revenue, in Norway is projected to generate US$3.54k NOK per person in 2024.
This figure showcases the average revenue generated by each individual in the country's population.
These numbers reflect the promising growth and potential of the Hospitals market in Norway, making it a lucrative sector to invest in.
Norway's hospitals are embracing digital innovations to enhance patient care and streamline administrative tasks.

Key regions: United States, China, Germany, Japan, Europe

Market

Region

Region comparison

Currency

Analyst Opinion

Norway, a country known for its stunning fjords, is also home to a thriving healthcare industry. The hospitals market in Norway has seen significant growth in recent years, driven by several factors.

Customer preferences: Norwegians have high expectations when it comes to healthcare services, and they are willing to pay for quality care. They prefer hospitals that offer state-of-the-art facilities, advanced medical technologies, and highly skilled healthcare professionals. Patients also value personalized care, with a focus on patient-centered approaches and holistic treatments.

Trends in the market: One of the key trends in the Norwegian hospitals market is the increasing use of digital technologies. Hospitals are adopting electronic health records (EHRs), telemedicine, and other digital tools to improve patient care and streamline operations. Another trend is the growing demand for specialized care, such as cancer treatment, orthopedics, and mental health services. Hospitals are expanding their offerings in these areas to meet the needs of patients.

Local special circumstances: Norway's healthcare system is publicly funded, with the government providing most of the funding for hospitals and other healthcare facilities. Private healthcare providers also operate in the country, but they are subject to strict regulations and oversight. The country's aging population is also a factor driving growth in the hospitals market, as older adults require more healthcare services.

Underlying macroeconomic factors: Norway has a strong economy, with a high standard of living and a well-educated workforce. The country's healthcare system is highly regarded, with a focus on preventive care and health promotion. The government invests heavily in healthcare, which has helped to drive growth in the hospitals market. However, the country's high cost of living and strict regulations can be challenging for private healthcare providers.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on revenue received by hospitals from public or private sources, allocated to the country where the money is spent, including VAT if applicable.

Modeling approach / Market size:

Market sizes are determined by a bottom-up approach, based on a specific rationale for each market market. Next, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, public health spend, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.